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Kenya renegotiates Arror, Kimwarer Sh19bn defaulted Italian loans

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President William Ruto and his Italian counterpart President Sergio Mattarella addressing the media at State house Nairobi on Tuesday, March 14, 2023. PHOTO | DENNIS ONSONGO | NMG

By  Dominic Omondi

Business Reporter

Nation Media Group

Kenya and Italy have agreed to renegotiate the Sh19.8 billion controversial loan that Nairobi took to construct the Arror and Kimwarer dams, setting the stage for the revival of the projects that were cancelled by former President Uhuru Kenyatta.

The review of €578.2 million (Sh79.2 billion) syndicated loan package provided by Italian commercial banks was the highlight of the talks in Nairobi between President William Ruto and his Italian counterpart, Sergio Mattarella.

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